FXTM (ForexTime) — review & details
A Cameroonian client would be taken on by Exinity Limited under a Mauritius FSC licence. Cameroon has no retail forex broker licensing regime, and CEMAC exchange-control practice makes funding an offshore trading account from an XAF bank account the harder half of the problem.
FXTM (ForexTime)
★★★★☆
Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. No Cameroonian or CEMAC licence.
Regulator (Local Clients)
No XAF account currency verified; assume funding in a major currency by card or e-wallet.
Local Currency Support
Web and mobile trading platforms; the exact list was not read during this research.
Platforms
Cameroonians who want the covering entity named rather than a vague claim of being regulated.
Best For
forex
Type
Pros
- The covering entity is named as Exinity Limited with a checkable Mauritius FSC licence number.
- The group holds an African regulator's licence through FSCA South Africa, not only offshore registrations.
- Cameroon is not on FXTM's published list of jurisdictions it refuses to serve.
Cons
- Most retail investors lose money trading leveraged CFDs; the marketing you see locally will not say so plainly.
- A Mauritius FSC licence gives a Cameroonian client limited protection, no compensation scheme and no local ombudsman.
- Cameroon and the wider CEMAC zone have no retail forex licensing regime and tight rules on transfers out of the zone - confirm with your bank that funding an offshore trading account is permitted before you try.
Fees, eligibility & documents
Fees
Spreads and commissionsNot verified in this research; compare account types on FXTM's own site.
Funding and conversion costsNot verified; moving XAF out of the CEMAC zone and converting it is likely the largest real cost.
Eligibility
- Aged 18 or over and resident in a country Exinity Limited serves - Cameroon is not on its published exclusion list.
- Able to complete identity and address verification.
- Able to fund an offshore account from an XAF bank or card within CEMAC transfer rules.
Documents needed
- Government-issued photo ID (passport or CNI)
- Recent proof of address
- Proof of ownership of the funding method, if requested
How FXTM (ForexTime) compares in forex & cfd brokers
| FXTM (ForexTime) | Tickmill | |
|---|---|---|
| Regulator (Local Clients) | Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. No Cameroonian or CEMAC licence. | Tickmill Ltd, Financial Services Authority of Seychelles (SD008). FCA UK (717270), CySEC (278/15) and FSCA South Africa (49464) entities do not cover Cameroonian clients. |
| Local Currency Support | No XAF account currency verified; assume funding in a major currency by card or e-wallet. | No XAF account currency verified; assume funding in a major currency. |
| Platforms | Web and mobile trading platforms; the exact list was not read during this research. | Margin trading on the group's platforms; the exact list was not read during this research. |
| Best For | Cameroonians who want the covering entity named rather than a vague claim of being regulated. | Traders who want to see exactly which entity would hold their money before opening an account. |
| Visit FXTM → | Visit Tickmill → |
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